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Elon Musk Torches Advertisers in DealBook Summit Interview

December 05, 2023 / 12:39

This episode of Pivot discusses Elon Musk's recent appearance at the New York Times DealBook Summit, where he addressed various topics including his anti-Semitic comments, his grievances with President Biden, and his views on AI and advertising.

Hosts Cara Swisher and Scott Galloway analyze Musk's performance, highlighting his aggressive remarks towards advertisers and his controversial statements about his upbringing and aspirations for humanity.

The conversation also touches on Linda Yaccarino's role as CEO of X (formerly Twitter) and her response to Musk's behavior during the event, with both hosts expressing concern over the implications for advertisers.

They reflect on the broader impact of Musk's actions on the advertising landscape and the challenges faced by companies considering advertising on X, given the current controversies.

The episode concludes with a discussion on the public's response to Musk and the potential consequences of his accumulation of power in the tech industry.

TL;DR

Elon Musk's DealBook Summit appearance raises concerns over his behavior and impact on advertising.

Video

00:00:00
hi everyone this is Pivot from New York
00:00:01
Magazine and the VOX media podcast
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Network I'm Cara swisser and tell me
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you're abusing ketamine without telling
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me you're abusing ketamine Cara I am
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only bereft that Jonathan had to be
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there to witness that Jonathan Ross
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sorin uh did you see that part our
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friend our Canadian he called our
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Canadian friend Jonathan his and Andrew
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is like I'm Andrew oh my God I could see
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that he said you're my good friend
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Jonathan and I was thinking why did he
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think Jonathan H the only sort of Jewish
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sounding name he could think of I I
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don't even know what he was doing there
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well if this if that whole um dialogue
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cemented or proved anything it is that
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in fact Andrew Ros sorin is Canadian
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one he was on stage the entire time
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unarmed we can talk about it more in a
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minute but go ahead he was on stage the
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entire time both unarmed and had health
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insurance Canadian yeah and you know how
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you get a Canadian to apologize how you
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step on his foot
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and that has some relevance here yeah
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yeah which we'll get to Andrew felt bad
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it was like a the way Andrew felt I
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don't know if he felt bad for the
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audience he didn't know what to say
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we're going to go right to our first
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story as we were talking about Elon Musk
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gave quite a performance at the New York
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Times dealbook Summit on Wednesday which
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was chalk full of really good interviews
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in a lengthy conversation with Jonathan
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Ross sorin also known as Andrew Elon
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addressed numerous topics uh ranging
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from from his anti-semitic comments to
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his grudge against Biden and waited on
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open AI aliens monkeys and more and
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something about Earth I don't quite
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understand what that was about and when
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they apologized for that anti-semitic
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tweet it was a comment directed at X's
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advertisers that caused the most chaos
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let's listen you don't want them to
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advertise no what do you
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mean if somebody's going to try to
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Blackmail me with advertising blackmail
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with money go [ __ ]
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yourself
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but go [ __ ]
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yourself is that
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clear I hope it is hey Bob impressed on
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what it would mean for his company this
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is what he said tell it to Earth uh you
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know you have to watch this in a whole
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because it's the entire thing is bizarre
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not just this um his diet tribe against
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uh not being invited to a Biden comab um
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everything was so strange tell it to
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Earth what did you think as you watch
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this uh the shout out to was to Bob Iger
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by the way who earlier who was in the
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audience who earlier in the day asked
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about when asked about Elon and
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advertising on next said that the
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association was not necessarily A
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positive one let me have some other
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highlights if we want to call them that
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elon's issues with Biden go back to
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Tesla getting excluded from this White
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House Event on electric vehicles he
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shortly after Biden took office he said
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it wasn't fair um he's he's obviously
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hurting from it um he said I have done
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more for the environment than any other
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person on earth when talking about
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electric vehicles sales Nikki Haley uh
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was dismissed as Pro censorship
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candidate more on her later open AI
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should be renamed super closed source
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for maximum profit AI haha Scott please
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go ahead I was on a plane watching it uh
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last night I came home from Miami and I
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found it difficult to
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watch um you know I think the most
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generous thing you could say is it was
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an
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intense uh bout of jet lag but there's
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something going on here and
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I of course went to chat GPT and I typed
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in what are the symptoms of a narcissist
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having a breakdown and it came back with
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intense rage and anger blame shifting
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emotional
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disregulation paranoia depression and
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anxiety manipulative behaviors isolation
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self-destructive behaviors increased
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sensitivity to criticism and breakdown
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of relationships I mean his statements
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were so ridiculous Cara do you realize
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that 497 of the Fortune 500 uh companies
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in the United States are clearly
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blackmailing us because they refuse to
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advertise on our platform I know and
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then to to go after Disney and it's like
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it just the whole thing was just and to
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be that to be that profane and that
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aggressive and then to somehow threaten
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advertisers that the world will hold you
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accountable if Twitter goes down and
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then talking about I thought the most
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disturbing part is someone who raises
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boys I'm talking about as a 13-year-old
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just the incredible hardship and
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dysfunction he faced his answer or his
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response to this incredible abuse being
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the son of a model and a emerald Miner
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was the decision that to save Humanity
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by making us an interplanetary species I
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mean he's literally he's just like kind
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of [ __ ] lost his [ __ ] you know again
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his stands literally were like this was
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great he did told it like it was this is
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and then let me just say uh Linda yaker
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well it's it's it's really sad it's sad
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it's sad I don't feel sorry for him but
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it's sad to watch um he thinks he's
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great his clothes were strange like he
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was a he was dressed as a fighter pilot
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from World War II I guess yeah I did
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notice that I don't really know um which
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is fine he can wear whatever he wants
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but it just the whole the whole visual
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was weird he looked exhausted he looked
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unshaven um you know I thought Lindy
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yino did the worst job of any CEO in
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recent memory but he has managed to top
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it he bested her um two things Lind
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Linda Yer was in the audience she then I
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thought she must have been horrified but
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instead she put up a lengthy post on X
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afterwards I'm not going to read it in
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full because it was such it was so full
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of nonsense um and and enabling when it
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comes to advertising X's standing at a
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unique and amazing intersection of free
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speech and Main Street block that
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[ __ ] metaphor but okay I think she
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just got run over by by you know a truck
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essentially driven by Elon Musk um one
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was how do you think she's feeling today
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at that intersection um she is she is
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really a piece of work I got to say
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because she's not she seems nuts but she
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is obviously something else my
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understanding of Linda is that she was
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outstanding at her job she was a
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fantastic head of sales well I'll get to
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that and so you put someone as a head of
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sales for a
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traditional company with a lot of
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products a lot of outstanding ass sets
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to sell and then you show up and you're
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you're fighting a fire with a squirt gun
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and then you find out that the person
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who you're fighting the Fighting For
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Keeps putting gasoline in your squirt
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gun she doesn't have to go this far she
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can leave she cannot put out quotes like
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this this was shocking to me you gota I
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I can't decide whether she's she's part
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of the problem I there's been very few
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people who have who have gone from zero
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to Global awareness and then in in
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almost as fast a a time a period have
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absolutely destroyed the reputation now
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you could argue in this day and age it's
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just all about awareness and I think
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she'll be able to get another job but it
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just she just looks she looks totally
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flaccid in the face of a owner who
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doesn't respect anything about her role
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of CEO she's not she's not a CEO and all
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is again the analogy is she's the the
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circus clown following this elephant
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around scooping up his [ __ ] all the time
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yeah yeah it's you know she was also the
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subject of a not very flattering profile
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in The Hollywood Reporter by Kim Masters
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Wednesday where the writer Kim Masters
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spoke with unnamed former NBC colleagues
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the article quotes someone who said
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Linda let her ego get the best of her
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she thought she could control them it
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was a level of ego and huous uh you rely
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see um I thought it was a pretty Fair
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article others thought it was you know
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it was all unnamed sources but it was
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accurate it was I know her that's she
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was tough she's a tough and somewhat of
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a chaotic manager not that I care lots
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of bad people don't manage as well but
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she definitely is way in way over her
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skis but then continues to double down
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that that's the tragedy here is this
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sort of like fullscale embracing of this
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lunatic Behavior by Elon um why would
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any Advertiser stay with X at this point
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what you know he's done this before
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remember when he first got to the
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company he he insulted advertisers of
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that ad first advertising meeting don't
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advertise with us then he just hates
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anyone in control of his Destiny I guess
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or something the answer is no big
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advertisers going to um or no or no
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advertisers that wor is worried about
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their reputation I mean I I found his
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comments everyone wants to peer try and
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peer into his heart to really understand
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if he's an anti-semite and my view is if
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you say and do anti-semitic things and
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boom you're an
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anti-semite and so big companies that
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are correctly more sensitive to this
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sort of scrutiny and criticism as they
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should be are going to stay away from
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this thing because here's the thing
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there are about a billion other options
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to spend your money in term there's no
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shortage there are fewer ad dollars than
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there are platforms to spend those
00:09:04
dollars on and Twitter is not
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particularly effective as many people
00:09:07
are pointing out like why why take the
00:09:10
risk it's never been known as as being a
00:09:12
great product in terms of Roi the people
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or the the firms that will continue to
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advertise well because the outflow of
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advertising will be so
00:09:21
dramatic logically speaking the ROI on
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the ad dollars that would remain should
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go up because there'll be fewer of them
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so if you're trying to sell an ear
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cleaning product I wouldn't be surprised
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and I hate to say this I wouldn't be
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surprised if the ROI on your ad dollars
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on Twitter that are going to be
00:09:39
competing with much fewer dollars for
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eyeballs will actually go up so they'll
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probably see a bit of a
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bump uh the smaller advertisers in terms
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of Roi because it'll just be so few
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dollars chasing what is still a fairly
00:09:54
large audience the ads have gotten
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really scary they've gotten really weird
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ear cleaning product is one of them that
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and that weird glue now you haven't been
00:10:03
on it but there's a weird hand glue I
00:10:04
don't really know what it is um uh you
00:10:07
know what's H how is this going to end
00:10:10
how is Earth what is Earth going to do
00:10:12
because they you know from a business
00:10:13
point of view X was last week the New
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York Times reported that X was in danger
00:10:17
of losing $75 million earlier this week
00:10:20
in advertising before the interview what
00:10:23
you're in a room with marketers right
00:10:24
now who are still on the platform what
00:10:27
is being said here's my b to narcissism
00:10:29
I've worked with 27 of the 100 CMOS of
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the Fortune 100 globally none of them
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would have anything to do with this
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platform right now none of them it's all
00:10:38
let me get this the product's not that
00:10:40
great you might be accused of enabling
00:10:43
an
00:10:44
anti-semite oh and if you decide to stop
00:10:46
advertising he's going to say you're
00:10:48
blackmailing them and and start
00:10:50
threatening revenge against you I mean
00:10:53
okay what is the upside here let's look
00:10:54
at the upside versus the down there
00:10:56
there are a few things that CMO can be
00:10:57
fired for kind of UN harmoniously if you
00:11:00
were to go on Twitter and spend some
00:11:01
money and then it were to blow up in
00:11:03
your face say your Pepsi your you know
00:11:05
Diet Pepsi ad ends up next to a swastika
00:11:08
and then a really decent question would
00:11:09
be like you saw this [ __ ] happening and
00:11:11
you made the conscious decision to put
00:11:13
us at risk like this so no nobody you or
00:11:17
me know knows is going to be advertising
00:11:19
on this platform yeah it's a real it is
00:11:22
a traffic accident speaking of f you
00:11:24
know F the corner of free speech in
00:11:26
Maine um I don't know
00:11:29
this is just it was so bizarre I was in
00:11:32
New York I didn't go you used to be
00:11:34
friends with him do you know anyone that
00:11:35
knows him I wasn't friends he was so he
00:11:37
was so funny he was referring to Andrew
00:11:40
as a friend Jonathan as a friend
00:11:41
Jonathan's not his friend either um he
00:11:44
thinks anyone who's nice to him as his
00:11:45
friend it's really sad actually um
00:11:48
Andrew and I are just reporters uh I
00:11:51
liked him I certainly thought he was
00:11:53
interesting um no I don't everyone just
00:11:56
shakes their head everyone just shakes
00:11:57
their head but I I do think on a on a
00:11:59
meta level I do think the world is
00:12:01
having a healthy immune response to Elon
00:12:03
Musk yeah the audience certainly did you
00:12:05
could hear it they were
00:12:07
like but we don't have a president of
00:12:10
the world we don't have one company that
00:12:11
controls the world we have several that
00:12:13
are Marching towards that but generally
00:12:15
speaking over time the ecosystem doesn't
00:12:18
like an invasive species and it starts
00:12:20
to fight back against it yeah and when
00:12:22
one person Aggregates this much power I
00:12:24
think the world does have a healthy
00:12:27
Earth it's called yeah it does have
00:12:29
healthy immune gag reflex and I feel
00:12:31
like we're starting to really choke on
00:12:33
this
00:12:37
guy

Badges

This episode stands out for the following:

  • 80
    Most controversial
  • 70
    Most shocking
  • 70
    Most surprising
  • 70
    Most talked-about

Episode Highlights

  • Elon Musk's Controversial Performance
    Elon Musk addressed a range of topics, including his anti-semitic comments and grievances with Biden.
    “It was a bizarre performance at the New York Times DealBook Summit.”
    @ 01m 18s
    December 05, 2023
  • The State of Advertising on X
    Concerns grow over X's advertising future as major companies pull back due to Musk's actions.
    “X was reported to be in danger of losing $75 million in advertising.”
    @ 10m 15s
    December 05, 2023
  • A Healthy Immune Response to Musk
    The conversation reflects a growing skepticism towards Musk's influence and power.
    “The world is having a healthy immune response to Elon Musk.”
    @ 12m 01s
    December 05, 2023

Episode Quotes

Key Moments

  • Ketamine Admission00:05
  • Musk's Performance01:18
  • Advertising Concerns10:15
  • Immune Response12:01

Words per Minute Over Time

Vibes Breakdown

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